Hyperdrive
Founders of Ford’s Defunct Argo Launch New Self-Driving Startup
- Firm will be backed by investment from non-automotive company
- Pittsburgh-based AV startup has hired at least 40 people
A Ford Argo AI test vehicle in Detroit, Michigan in July 2019.
Photographer: Jeff Kowalsky/AFP/Getty ImagesThis article is for subscribers only.
The founders of Argo AI, the autonomous vehicle company that was shut down last year, are launching a new self-driving business that could specialize in trucking and ride-hailing, according to people familiar with the matter.
The venture by Bryan Salesky and Pete Rander will be backed by an investment from a company that approached them about starting a full-scale AV firm, the people said. The identity of the backer wasn’t immediately clear, but the people said it’s not an automaker.